The Rawle Gammon & Baker Ltd Pension & Assurance Scheme (sponsored by FTI Property Ltd, a company in the commercial property sector) has completed a £23m full buy-in transaction with Just Group.
The transaction, which was finalised in June 2024, secures the benefits of 113 deferred members and 154 pensioners. The project was supported by consulting firm K3 Advisory’s strategic partner In-Vest & Retire which is the trustees’ investment advisor, and WPS Trustee governance services.
“We are very pleased to have secured the benefits for these scheme members and to have met the needs of the trustees and the schemes’ sponsors,” said Kishan Radia, Business Development Manager at JUST Group.
“This transaction shows the market is open to schemes of all sizes, and in this vibrant market being well prepared is particularly valuable to small schemes in helping them secure insurer engagement. K3 understand this well and it’s always a positive experience to collaborate with their team on these transactions,” added Radia.
“The support and advice received from WPS, In-Vest & Retire and K3 took the trustees from having the initial idea of a buy-in, through development and management of the project plan and all the way up to completion of the transaction,” said Paul Turner, Chair of Trustees.
“This transaction highlights the importance of managing your investments in a buyout aware way, then follow with proactive monitoring and preparation,” added Mark Foster, Managing Director at In-Vest & Retire.
“The buy-in market has become increasingly busy over the last few years, with more schemes looking to de-risk and secure their members’ benefits. By working closely with the trustees and through our strategic partnership with K3 Advisory, we were able to leverage favourable pricing. “Together, we were able to secure an excellent outcome for the scheme members in a remarkably short timeframe,” Foster added.
